Spain’s gambling regulator has moved to block access to prediction market platforms Polymarket and Kalshi, accusing both operators of offering services in the country without the required licences.
The Dirección General de Ordenación del Juego (DGOJ) confirmed that the restrictions are part of a formal investigation into the two companies. Authorities said the platforms had been providing prediction-based wagering products to Spanish users despite lacking the mandatory authorisation under local gambling laws.
The temporary block is expected to remain in place for between three and four months while the investigation continues. The proceedings have already been published in Spain’s official state bulletin, with regulators now considering possible sanctions or further enforcement measures.
Spanish officials argued that prediction markets fall under gambling regulation when users stake money on uncertain future outcomes, including political events, weather developments and other real-world scenarios. Because of that classification, operators must comply with strict licensing rules and player protection standards before entering the market.
The DGOJ also pointed to concerns around consumer safeguards, saying licensed operators in Spain are required to verify customer identities and prevent access for minors and self-excluded players. Authorities claimed Polymarket and Kalshi were operating outside those controls.
Polymarket responded by saying it is open to cooperating with regulators and discussions over a compliant path forward in Spain. Kalshi did not publicly comment on the decision.
The action adds Spain to a growing list of jurisdictions tightening oversight of prediction markets. Regulators in countries including France, Belgium, Romania and Brazil have also taken steps against platforms such as Polymarket over concerns tied to unlicensed gambling activity and market integrity.